Cantor Fitzgerald Upgrades Aclaris Therapeutics (NASDAQ:ACRS) to “Strong-Buy”

Cantor Fitzgerald upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) to a strong-buy rating in a research note released on Tuesday,Zacks.com reports.

ACRS has been the subject of several other reports. Leerink Partnrs upgraded Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. BTIG Research upgraded Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Tuesday, November 19th. HC Wainwright upgraded Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Monday, December 23rd. Piper Sandler upgraded Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $3.00 to $13.00 in a research report on Monday, November 18th. Finally, Jefferies Financial Group upgraded Aclaris Therapeutics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $2.00 to $7.00 in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $11.00.

Aclaris Therapeutics Price Performance

NASDAQ ACRS opened at $1.93 on Tuesday. The stock has a market capitalization of $137.86 million, a PE ratio of -3.71 and a beta of 0.50. The business has a 50 day simple moving average of $2.40 and a two-hundred day simple moving average of $2.18. Aclaris Therapeutics has a 1-year low of $0.95 and a 1-year high of $5.17.

Institutional Trading of Aclaris Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its stake in Aclaris Therapeutics by 113.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 397,362 shares of the biotechnology company’s stock valued at $985,000 after purchasing an additional 211,585 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Aclaris Therapeutics by 187.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 332,406 shares of the biotechnology company’s stock valued at $382,000 after purchasing an additional 216,826 shares during the last quarter. BML Capital Management LLC grew its stake in Aclaris Therapeutics by 9.7% in the third quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock valued at $16,388,000 after purchasing an additional 1,261,866 shares during the last quarter. Geode Capital Management LLC grew its stake in Aclaris Therapeutics by 9.3% in the third quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company’s stock valued at $974,000 after purchasing an additional 72,309 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Aclaris Therapeutics in the third quarter valued at about $1,053,000. 98.34% of the stock is currently owned by institutional investors.

Aclaris Therapeutics Company Profile

Aclaris Therapeutics, Inc a clinical-stage biopharmaceutical company, engages in the development of novel drug candidates for immune-inflammatory diseases in the United States. The company operates through two segments, Therapeutics and Contract Research. The Therapeutics segment is involved in identifying and developing therapies to address significant unmet needs for immuno-inflammatory diseases.